Major indices are mixed this Friday morning as the market prepares to close out the year of 2017. The market is mostly quiet, as it has been all week. The only big movers seem to be relatively small companies with locally significant news. Apple (AAPL) has apologized for deliberately slowing older model iPhones, reiterating that its motive was to spare users’ batteries. With lawsuits springing up around the issue like mushrooms after the rain, one hopes for Apple’s sake that the claim holds up.
Industries doing well today include tobacco, beverages, and multiline retail. Industries showing weakness include metals & mining, diversified consumer services, and energy equipment. The VIX is flat at 10.18. The most heavily traded options this morning are for the S&P 500 SPDR ETF (SPY), with 4,184 December-29 268 puts on the board. The total put/call ratio as of 10:00 AM was 0.86 (192,869/166,025). The advancers/decliners ratio for NYSE stocks is 1,367/1,421 while the advancers/decliners ratio for NASDAQ stocks is 1,383/1,424.